In Puerto Rico, Program Attracts Young Entrepreneurs, Sees Results
Style Magazine Newswire | 8/4/2017, 1:44 p.m.
A program that has attracted young entrepreneurs to Puerto Rico is seeing solid growth and is generating solid revenues and jobs. Parallel 18, an accelerator program founded in 2015, offers $40,000 in funding, along with mentoring, consulting, and introduction to investors, to small companies who are looking to scale up and have not been in operation for more than three years. In exchange, the entrepreneurs live and work in Puerto Rico, and collaborate with local universities and mentor students. Parallel 18 takes its name from where the island is located on a map. So far, the companies participating in the program have generated $14 million in sales, more than half of that on the island, and new jobs.